Global law firm White & Case LLP has advised the Republic of Finland on the €148 million sale of the entire share capital of Destia Ltd., a Finnish infrastructure and construction service company, to Ahlström Capital.
The transaction achieves the stated goals of the government to sell the company on financially favourable terms in order to clarify and increase competition in the Finnish infrastructure and construction industry, and to find a domestic buyer committed to the long term development of the company.
Destia Ltd. was created in 2008 by incorporating the former Finnish Road Enterprise, the state agency for road maintenance. The closing of the transaction is subject to the approval of the Finnish Competition and Consumer Authority.
“White & Case is delighted to have once again advised the Republic of Finland on a significant transaction,” said White & Case Helsinki partner Timo Airisto. “Our experience in representing the state goes back more than two decades and we believe that this transaction speaks volumes of our knowledge and commitment to the Finnish market and our status as trusted advisor in Finland.”
The White & Case team was led by Helsinki partner Timo Airisto with support from associates Essi Lavikkala and Oona Järvenpää.
